SBS Transit H1 net profit falls 7.7% to S$31.1 million

[SINGAPORE] SBS Transit recorded a net profit of S$31.1 million for the first half of 2025, 7.7 per cent lower than the year-ago period.

Revenue fell 4.5 per cent to S$745.9 million, from S$781.4 million the year before, the bus and train operator said in a bourse filing on Monday (Aug 11). This decline was due to the loss of the Jurong West bus package in August 2024, which was partially offset by higher average rail fares.

Revenue from public transport services dropped 5.1 per cent to S$715.6 million, while revenue from other commercial services rose 11.9 per cent to S$30.3 million. The increase was attributed to higher digital advertising revenue coupled with the SG60 advertisement campaign on buses.

Earnings per share for H1 2025 stood at S$0.0995, down from S$0.108 in H1 2024.

However, SBS Transit declared a higher interim dividend of S$0.0895 per share, compared with S$0.0558 a year ago.

“Rail operations revenue is expected to increase with steady growth in ridership and fare adjustments that came into effect on Dec 28, 2024,” SBS Transit said. 

Bus operations revenue is expected to decline as a result of the full-year impact of the loss of the Jurong West bus package from Aug 31 last year. It also noted how its Tampines bus package will be expiring in July 2026. The group has submitted a bid for the project again and is awaiting results of the tender.

“Manpower costs are anticipated to rise due to the tight labour market. Barring unforeseen circumstances, fuel and energy costs are expected to ease.”

Shares of SBS closed 0.9 per cent or S$0.03 lower at S$3.21 on Monday before the announcement.